Print to PDF: browser Print (Ctrl+P / Cmd+P)

Select Quarter:

2026Q2 2026Q1

CRD #313305 Review Period: 2026Q2 Filing: Direct 606 filer

GREEN PIER FINTECH LLC (CRD #313305) — Quarterly Rule 606 vs. Amended Rule 605 Competing Market Review

Name: GREEN PIER FINTECH LLC (CRD #313305) 2026Q2 Execution Quality Benchmark
Creator: Execution Reports
License: https://executionreports.com/methodology

• 0 COMPETING-MARKET EXCEPTIONS DETECTED (>1.0 BPS THRESHOLD)

Open Review Workspace → Request committee preview

Primary Routed Venues (606)

1. CITADEL SECURITIES LLC(152.1%)

2. Virtu Americas, LLC(147.4%)

3. Hudson River Trading (HRT)(139.9%)

Top routed order shares

Disclosed PFOF / Rebates

$130.36

Avg 4.09 ¢

Competing-Market Exceptions

0 of 0

Scored cells with >1.0 bps shortfall

Data Coverage

0 mo • 0 builds

Amended 605 builds

Rule 5310.09 Exceptions Preview (0 Total)

All scored order size and routing buckets where venue net price improvement trailed mix-adjusted peers by > 1.0 bps.

Open in Workspace to Dispose →

No statistically significant competing-market shortfalls exceeding 1.0 bps were detected in this quarter’s scored cells.

FINRA Rule 5310.09 Review Packet

GREEN PIER FINTECH LLC

CRD Number: 313305 • Quarter: 2026Q2 • Generated: Wed, 14 Oct 2026 20:19:48 GMT

Methodology: exq-2

Status: CLOSED QUARTER

Resolved Rule 606 Source Filings

Author / Clearing Firm	CRD	Variant / Context	Version	SHA-256 Digest	Source Document
PIER	313305	PIER	V1	a0dfa155f14bb6aa58dbf5fdca5a27cdef2d368f5b904d2671b625f47eb9c9c5	Download XML ↗

1. SEC Rule 606(a)(1) Order Routing

Quarterly non-directed customer order routing shares and net PFOF/rebates by section and venue.

Download CSV ↓

Month	Section	Execution Venue	605 Reporter	Route %	Market %	Mkt Limit %	Non-Mkt %	PFOF Mkt (¢/100)	PFOF Limit (¢/100)
202604	other_stocks	CITADEL SECURITIES LLC	CDRG	25.1%	25.7%	11.1%	20.8%	-0.46 ¢	0.00 ¢
202604	other_stocks	Virtu Americas, LLC	NITE	24.1%	25.0%	22.2%	20.0%	0.00 ¢	0.00 ¢
202604	other_stocks	Two Sigma Securities, LLC	Unmapped	23.7%	24.8%	0.0%	19.3%	0.00 ¢	0.00 ¢
202604	other_stocks	Hudson River Trading (HRT)	HRTF	22.7%	24.5%	0.0%	14.5%	0.00 ¢	0.00 ¢
202604	other_stocks	Cboe EDGX Exchange, Inc.	Unmapped	2.8%	0.0%	33.3%	16.3%	0.00 ¢	-30.00 ¢
202604	other_stocks	The Nasdaq Stock Market	Unmapped	1.6%	0.0%	33.3%	9.3%	0.00 ¢	0.00 ¢
202604	sp500	CITADEL SECURITIES LLC	CDRG	26.6%	24.8%	0.0%	47.4%	-1.17 ¢	0.00 ¢
202604	sp500	Virtu Americas, LLC	NITE	25.7%	26.0%	0.0%	23.7%	0.00 ¢	0.00 ¢
202604	sp500	Hudson River Trading (HRT)	HRTF	24.2%	26.0%	0.0%	5.3%	0.00 ¢	0.00 ¢
202604	sp500	Two Sigma Securities, LLC	Unmapped	21.6%	23.2%	0.0%	5.3%	0.00 ¢	0.00 ¢
202604	sp500	The Nasdaq Stock Market	Unmapped	1.7%	0.0%	100.0%	15.8%	0.00 ¢	0.00 ¢
202604	sp500	Cboe EDGX Exchange, Inc.	Unmapped	0.2%	0.0%	0.0%	2.6%	0.00 ¢	0.00 ¢
202605	other_stocks	Virtu Americas, LLC	NITE	25.7%	26.1%	0.0%	23.3%	5.72 ¢	0.00 ¢
202605	other_stocks	CITADEL SECURITIES LLC	CDRG	24.8%	25.6%	50.0%	17.9%	4.06 ¢	0.00 ¢
202605	other_stocks	Two Sigma Securities, LLC	Unmapped	23.8%	24.5%	0.0%	19.7%	3.49 ¢	5.79 ¢
202605	other_stocks	Hudson River Trading (HRT)	HRTF	21.8%	23.8%	0.0%	9.7%	2.71 ¢	0.00 ¢
202605	other_stocks	Cboe EDGX Exchange, Inc.	Unmapped	2.5%	0.0%	50.0%	17.9%	0.00 ¢	-30.00 ¢
202605	other_stocks	The Nasdaq Stock Market	Unmapped	1.6%	0.0%	0.0%	11.3%	0.00 ¢	0.00 ¢
202605	sp500	CITADEL SECURITIES LLC	CDRG	27.3%	25.2%	100.0%	45.6%	4.76 ¢	10.00 ¢
202605	sp500	Hudson River Trading (HRT)	HRTF	26.9%	25.9%	0.0%	36.8%	5.10 ¢	0.00 ¢
202605	sp500	Virtu Americas, LLC	NITE	22.9%	25.4%	0.0%	0.0%	3.33 ¢	0.00 ¢
202605	sp500	Two Sigma Securities, LLC	Unmapped	22.1%	23.5%	0.0%	8.8%	7.01 ¢	10.00 ¢
202605	sp500	The Nasdaq Stock Market	Unmapped	0.7%	0.0%	0.0%	7.0%	0.00 ¢	0.00 ¢
202605	sp500	Cboe EDGX Exchange, Inc.	Unmapped	0.2%	0.0%	0.0%	1.8%	0.00 ¢	0.00 ¢
202606	other_stocks	CITADEL SECURITIES LLC	CDRG	25.8%	26.6%	18.2%	19.2%	0.27 ¢	6.86 ¢
202606	other_stocks	Virtu Americas, LLC	NITE	24.3%	25.4%	18.2%	17.7%	1.40 ¢	0.40 ¢
202606	other_stocks	Two Sigma Securities, LLC	Unmapped	23.4%	24.5%	13.6%	18.1%	1.22 ¢	5.79 ¢
202606	other_stocks	Hudson River Trading (HRT)	HRTF	21.9%	23.4%	9.1%	14.8%	0.35 ¢	9.92 ¢
202606	other_stocks	Cboe EDGX Exchange, Inc.	Unmapped	2.5%	0.0%	22.7%	16.2%	0.00 ¢	-14.20 ¢
202606	other_stocks	The Nasdaq Stock Market	Unmapped	2.1%	0.0%	18.2%	13.9%	0.00 ¢	0.00 ¢
202606	sp500	Virtu Americas, LLC	NITE	24.7%	26.8%	66.7%	16.3%	8.28 ¢	10.00 ¢
202606	sp500	Two Sigma Securities, LLC	Unmapped	24.1%	25.2%	33.3%	19.6%	5.89 ¢	10.00 ¢
202606	sp500	CITADEL SECURITIES LLC	CDRG	22.6%	24.2%	0.0%	16.7%	6.80 ¢	0.00 ¢
202606	sp500	Hudson River Trading (HRT)	HRTF	22.4%	23.8%	0.0%	17.5%	5.09 ¢	0.00 ¢
202606	sp500	The Nasdaq Stock Market	Unmapped	3.3%	0.0%	0.0%	15.8%	0.00 ¢	0.00 ¢
202606	sp500	Cboe EDGX Exchange, Inc.	Unmapped	2.9%	0.0%	0.0%	14.2%	0.00 ¢	0.00 ¢

2. Venue Scorecards (Amended Rule 605)

Execution quality metrics for routed venues benchmarked against mix-adjusted competitors on identical symbols and size tiers.

Download CSV ↓

Month	Venue	Class	Notional × Lot	Fill Rate	PI Rate	NPI (bps)	Peer Bench (bps)	Coverage	Rank Pctl	Eff Spread	Speed <1s

3. Routing-Weighted Composite Quality

Implied execution quality achieved by the firm’s routing mix across the 24 amended size tiers, compared against the best and median competing venues.

Download CSV ↓

Month	Class	Notional × Lot	Metric	Firm Composite	Best Competing	Best Venue	Median Competing	Mapped Flow

4. Payment for Order Flow vs. Execution Quality

Addresses FINRA 5310.09 conflicts: comparing PFOF received (¢/100 sh) against net price improvement shortfall vs mix-adjusted peers.

Download CSV ↓

Month	Venue	Order Class	Route %	606 Net PFOF (¢/100)	NPI (bps)	Peer Bench (bps)	Delta (bps)	Ref Price	Delta (¢/100 sh)	Conflict Flag

Conflict Methodology Note: Quality delta (¢/100 sh) is estimated as Δ_bps × ref_price. A positive PFOF beside a negative delta indicates the firm received payment while the venue delivered less price improvement than competing market centers on identical symbols and size tiers.

5. Material Changes Since Prior Quarter

Changes in routing share (≥ 5 pp), newly added/dropped venues, and PFOF rate shifts since 2026Q1.

Download CSV ↓

Section	Venue	Type of Change	Order Class	Prior Value	Current Value	Net Shift
sp500	Cboe EDGX Exchange, Inc.	pfof_rate	non_marketable_limit	8.00 ¢	10.67 ¢	2.67 ¢
sp500	CITADEL SECURITIES LLC	route_share	—	33.77 ¢	25.47 ¢	-8.30 ¢
sp500	CITADEL SECURITIES LLC	pfof_rate	market	-1.18 ¢	3.46 ¢	4.65 ¢
sp500	CITADEL SECURITIES LLC	pfof_rate	marketable_limit	0.00 ¢	3.33 ¢	3.33 ¢
sp500	CITADEL SECURITIES LLC	pfof_rate	non_marketable_limit	0.00 ¢	6.67 ¢	6.67 ¢
sp500	Hudson River Trading (HRT)	route_share	—	13.21 ¢	24.51 ¢	11.31 ¢
sp500	Hudson River Trading (HRT)	pfof_rate	market	0.00 ¢	3.40 ¢	3.40 ¢
sp500	Two Sigma Securities, LLC	route_share	—	16.11 ¢	22.58 ¢	6.47 ¢
sp500	Two Sigma Securities, LLC	pfof_rate	market	0.00 ¢	4.30 ¢	4.30 ¢
sp500	Two Sigma Securities, LLC	pfof_rate	marketable_limit	0.00 ¢	6.67 ¢	6.67 ¢
sp500	Two Sigma Securities, LLC	pfof_rate	non_marketable_limit	0.00 ¢	3.33 ¢	3.33 ¢
sp500	Virtu Americas, LLC	route_share	—	35.55 ¢	24.45 ¢	-11.10 ¢
sp500	Virtu Americas, LLC	pfof_rate	market	0.00 ¢	3.87 ¢	3.87 ¢
sp500	Virtu Americas, LLC	pfof_rate	marketable_limit	0.00 ¢	3.33 ¢	3.33 ¢
sp500	Virtu Americas, LLC	pfof_rate	non_marketable_limit	0.00 ¢	3.33 ¢	3.33 ¢
other_stocks	Cboe EDGX Exchange, Inc.	pfof_rate	marketable_limit	0.00 ¢	-24.73 ¢	-24.73 ¢
other_stocks	Cboe EDGX Exchange, Inc.	pfof_rate	non_marketable_limit	8.37 ¢	11.58 ¢	3.20 ¢
other_stocks	CITADEL SECURITIES LLC	route_share	—	32.65 ¢	25.23 ¢	-7.43 ¢
other_stocks	CITADEL SECURITIES LLC	pfof_rate	market	-0.10 ¢	1.29 ¢	1.39 ¢
other_stocks	CITADEL SECURITIES LLC	pfof_rate	marketable_limit	-0.12 ¢	2.29 ¢	2.40 ¢
other_stocks	CITADEL SECURITIES LLC	pfof_rate	non_marketable_limit	-0.39 ¢	2.90 ¢	3.29 ¢
other_stocks	CITADEL SECURITIES LLC	pfof_rate	other	0.00 ¢	1.07 ¢	1.07 ¢
other_stocks	Hudson River Trading (HRT)	route_share	—	12.66 ¢	22.11 ¢	9.45 ¢
other_stocks	Hudson River Trading (HRT)	pfof_rate	market	0.00 ¢	1.02 ¢	1.02 ¢
other_stocks	Hudson River Trading (HRT)	pfof_rate	marketable_limit	0.00 ¢	3.31 ¢	3.31 ¢
other_stocks	Two Sigma Securities, LLC	route_share	—	17.51 ¢	23.61 ¢	6.10 ¢
other_stocks	Two Sigma Securities, LLC	pfof_rate	market	0.00 ¢	1.57 ¢	1.57 ¢
other_stocks	Two Sigma Securities, LLC	pfof_rate	marketable_limit	0.00 ¢	3.86 ¢	3.86 ¢
other_stocks	Two Sigma Securities, LLC	pfof_rate	non_marketable_limit	0.00 ¢	2.32 ¢	2.32 ¢
other_stocks	Virtu Americas, LLC	route_share	—	33.10 ¢	24.69 ¢	-8.41 ¢
other_stocks	Virtu Americas, LLC	pfof_rate	market	0.00 ¢	2.37 ¢	2.37 ¢
other_stocks	Virtu Americas, LLC	pfof_rate	marketable_limit	0.00 ¢	0.13 ¢	0.13 ¢
other_stocks	Virtu Americas, LLC	pfof_rate	non_marketable_limit	0.00 ¢	3.87 ¢	3.87 ¢
other_stocks	Virtu Americas, LLC	pfof_rate	other	0.00 ¢	0.16 ¢	0.16 ¢

6. Coverage, Exclusions & Standing Limitations

Mandatory regulatory disclosure of data availability, unmapped destinations, and methodological caveats.

Suppressed Cells

Cells with < 100 covered orders

Unmapped Venues

606 destinations without 605 match

Challenged / Missing 605

Venues missing monthly 605 report

Unmapped Routing Destinations:

Cboe EDGX Exchange, Inc. (name:CBOE EDGX EXCHANGE), The Nasdaq Stock Market (name:THE NASDAQ STOCK MARKET), Two Sigma Securities, LLC (name:TWO SIGMA SECURITIES)

Standing Review Limitations:

A venue's Rule 605 statistics describe all flow it handled, not this firm's orders.
606 route shares are per order, not per share, and list only the top 10 venues plus any venue with at least 5% of non-directed orders.
FINRA Rule 5310.09 also requires the firm's own order-level review of its executions.
This report is not legal or compliance advice.
Net price improvement is in basis points of executed notional (quote midpoint × shares). The PFOF comparison converts the difference to ¢/100 sh at the venue's average executed price; it is an estimate.